Funding arb · Price arb /

JUP

all JUP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.088%

Price spread now: Extended against GRVT−0.106%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs+$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.723%+$72 on $10k

Price spread, last 7 days+0.147%+$15 · spread now −0.106%, 7d avg +0.001%

Together, before fees+0.871%+ Points / potential airdropGRVT: Active · Extended: Active · farm board+$87 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.107% cheaper against GRVT than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of +0.001%). If the spread goes back, that is −$11 on $10k: about 30 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.723% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT JUP_USDT_Perp	0.2992	0.0100	pay 0.0050% / 4h	3h 46m	$1.6M	$3.7M	10x
Short	Extended JUP-USD	0.2989	0.0112	get 0.0014% / 1h	46m 50s	$2.2M	$491K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against GRVT. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GRVTbpFee ExtendedbpOrdersPrice spread, now −0.106%Rate

Funding earned: $2.52
Price spread: −0.106% → +0.001%: −$10.7
Slippage, 4 orders: −$39.73
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$61.91
Costs to cover: 0.537%
Break-even: 179.0 days

Slippage from GRVT: live order book, 2 min ago; Extended: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy GRVT live order book, 2 min ago	3.35 bp	18.6 bp −$19	54.2 bp −$542	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	6.68 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit

JUP on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective JUP/USDC PERP	−0.4634%	1h	0.2959	−1.113%	$3K	$206K	5.5x	as long as short
Pacifica JUP	−0.0356%	1h	0.2988	−0.137%	$285K	$150K	10x	as long as short
Deribit JUP_USDC-PERPETUAL	−0.0285%	1h	0.2989	−0.127%	$55K	$16K	10x	as long as short
GMX JUP/USD [WBTC.b-USDC]	L −0.0210% / S +0.0573%	1h	0.2989	−0.099%	$16K	—	100x	as long as short
Kraken Futures PF_JUPUSD	−0.0101%	1h	0.2990	−0.093%	$602K	$542K	20x	as long as short
gTrade (Gains Network) JUP/USD	L +0.0002% / S −0.0001%	1h	0.2990	−0.063%	$17K	—	150x	as long as short
OKX JUP-USDT-SWAP	+0.0024%	4h	0.2988	−0.144%	$4.1M	$16.1M	50x	as long as short
01 Exchange JUPUSD	+0.0040%	1h	0.2989	−0.100%	$26K	$19K	5x	as long as short
dYdX JUP-USD	+0.0040%	1h	0.2992	−0.026%	$39K	$32K	5x	as long as short
Variational Omni JUP	+0.0057%	4h	0.2989	−0.109%	$724K	$776K	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya JUPRUSDPERP	+0.0057%	1h	0.2987	−0.192%	—	—	20x	as long as short
BloFin JUP-USDT	+0.0083%	4h	0.2985	−0.244%	$846K	$309K	50x	as long as short
Paradex JUP-USD-PERP	+0.0083%	8h	0.2987	−0.164%	$9K	$13K	10x	as long as short
Lighter JUP	+0.0096%	1h	0.2991	−0.057%	$770K	$1.3M	10x	as long as short
Orderly PERP_JUP_USDC	+0.0100%	4h	0.2990	−0.077%	$31K	$47K	10x	as long as short
Nado JUP-PERP	+0.0100%	1h	0.2987	−0.177%	$620K	$641K	10x	as long as short
Hyperliquid JUP	+0.0100%	1h	0.2992	−0.024%	$19.2M	$12.9M	10x	as long as short
Aster JUPUSDT	+0.0100%	4h	0.2991	−0.038%	$116K	$357K	10x	as long as short
Binance JUPUSDT	+0.0100%	4h	0.2991	−0.037%	$16.5M	$50.9M	75x	as long as short
Bybit JUPUSDT	+0.0100%	4h	0.2989	−0.114%	$16.3M	$21.5M	50x	as long as short
Bulk JUP-USD	+0.0100%	1h	0.2987	−0.172%	$62K	$8K	10x	as long as short
Gate JUP_USDT	+0.0100%	4h	0.2990	−0.077%	$748K	$1.5M	75x	as long as short
MEXC JUP_USDT	+0.0100%	4h	0.2992	−0.010%	$8.1M	$7.2M	200x	as long as short
KuCoin JUPUSDTM	+0.0100%	4h	0.2992	−0.010%	$4.2M	$6.8M	50x	as long as short
Bitget JUPUSDT	+0.0100%	4h	0.2993	+0.023%	$5.8M	$7.2M	75x	as long as short
BingX JUP-USDT	+0.0100%	4h	0.2991	−0.044%	—	$20.7M	—	as long as short
Backpack JUP_USDC_PERP	+0.0100%	1h	0.2990	−0.070%	$990K	$232K	10x	as long as short
GRVT JUP_USDT_Perplong	+0.0100%	4h	0.2992	long leg	$1.6M	$3.7M	10x
ApeX Omni JUPUSDT	+0.0100%	1h	0.2993	+0.023%	$159K	$319K	50x	as long as short
Polymarket Perps JUP-USD	+0.0100%	1h	0.2994	+0.040%	$95K	$117K	10x	as long as short
HTX JUP-USDT	+0.0100%	4h	0.2982	−0.344%	$112K	$60K	20x	as long as short
Phemex JUPUSDT	+0.0100%	4h	0.2994	+0.057%	$2.9M	$3.8M	50x	as long as short
Aevo JUP-PERP	+0.0104%	1h	0.2990	−0.092%	$41K	—	3x	as long as short
Extended JUP-USDshort	+0.0112%	1h	0.2989	−0.106%	$2.2M	$491K	25x
Phoenix JUP	+0.0214%	1h	0.2991	−0.044%	$97K	$469K	10x	as long as short
Coinbase International JUP-PERP-INTX	+0.0280%	1h	0.2996	+0.130%	$75K	$88K	50x	as long as short